AutoZone, Inc. $AZO Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1,288.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,666 shares of the company’s stock after buying an additional 5,258 shares during the period. Verition Fund Management LLC’s holdings in AutoZone were worth $19,216,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AZO. Norges Bank acquired a new stake in AutoZone during the 4th quarter worth approximately $939,205,000. Morgan Stanley lifted its holdings in AutoZone by 17.8% during the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after buying an additional 74,555 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in AutoZone by 387.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock worth $263,832,000 after buying an additional 61,821 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in AutoZone by 39.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after buying an additional 50,071 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after buying an additional 45,212 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Down 0.3%

Shares of AZO opened at $3,105.57 on Tuesday. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The firm’s fifty day simple moving average is $3,361.28 and its 200-day simple moving average is $3,506.08. The firm has a market capitalization of $51.18 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 1.58 and a beta of 0.35.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the business earned $35.36 EPS. The company’s revenue was up 8.4% on a year-over-year basis. On average, analysts predict that AutoZone, Inc. will post 150.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AZO shares. BMO Capital Markets reduced their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Morgan Stanley reduced their target price on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. BNP Paribas Exane reduced their target price on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

Insiders Place Their Bets

In related news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.60% of the company’s stock.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.